Elan to Acquire Liposome
For $575 Million in Stock

Irish drug maker Elan Corp. added anticancer treatments to its rapidly expanding medicine chest by agreeing to acquire Liposome Co. of the U.S. in a stock swap valued at $575 million.

Elan, which got its start developing improved versions of other companies' drugs, has pushed aggressively into cutting-edge research of its own in recent years by snapping up U.S. biotech companies and snagging marketing accords for promising medicines...